Many regard the financial crisis as a failure of the free market and “greedy” businessmen. But is capitalism really to blame for our current economic mess?

In this panel Yaron Brook, executive director of the Ayn Rand Institute, and John Allison, chairman of BB&T Bank, will argue that today’s crisis is a failure of the un-free market. Massive government intervention, from Washington’s affordable-housing crusade, via Fannie Mae and Freddie Mac, to the Federal Reserve’s easy-money policies, laid the groundwork for the crisis. The panelists will evaluate the government’s response to the crisis and suggest alternatives.

They also will explain why the free market has taken the blame for a crisis caused by government intervention. While most people are quick to blame capitalism for any evil because it encourages selfishness and rewards the profit motive, Dr. Brook and Mr. Allison will argue that these traits are precisely what make capitalism a moral system.

Panelist Bios:

Yaron Brook is president and executive director of the Ayn Rand Institute. A former finance professor, he has published in academic as well as popular publications and is frequently interviewed in the media. He has appeared on CNN, Fox Business Network, Fox News Channel, CNBC and PBS, among others. He lectures on Objectivism, business ethics and foreign policy at college campuses and for corporations across America and throughout the world.

John Allison is chairman of BB&T Corporation, a $152 billion financial-holding company. Mr. Allison began his service with BB&T in 1971 and has managed a wide variety of responsibilities throughout the bank. He became president of BB&T in 1987 and was elected chairman and CEO in July 1989. During Mr. Allison’s tenure as CEO from 1989 to 2008, BB&T grew from $4.5 billion to $152 billion in assets. In March 2009 he joined the faculty of Wake Forest University Schools of Business as Distinguished Professor of Practice.

Kimmel Center at New York University
Rosenthal Pavilion
60 Washington Square South
New York,
NY 10012

Monday, September 14, 2009 at 8:00 PM (EDT)

Organizer

Objectivist Club at NYU

The Objectivist Club at NYU is a student-led organization that seeks to promote the philosophy of Ayn Rand, Objectivism, to the NYU campus in particular and the New York population at large. As part of its regular program, the club hosts a year-long lecture series featuring prominent Objectivist intellectuals. All lectures are free and open to the public.